Senator Frantz Releases Statement on Fitch Ratings Downgrade of the State of Connecticut

HARTFORD, Conn. – Today State Senator L. Scott Frantz (R-Greenwich) released the following statement regarding the Fitch Ratings downgrade of the state of Connecticut.

 “While this news is certainly disappointing, it is not surprising,” said Sen. Frantz. “This is just another indicator of what direction our state is headed for and shows the grim financial situation we are in. Earnest budget negotiations will begin next week and any budget that is adopted by the legislature must make serious structural and policy changes, while avoiding raising taxes. We can no longer ignore the serious fiscal cliff that our great state is teetering on.”

Fitch Ratings Inc., downgraded Connecticut from AA- to A+, this marks the fourth time Connecticut has faced a downgrade since May of last year.